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Brix Lelis - The Philippine Star
April 5, 2025 | 12:00am
The Department of Energy has indicated a potential price hike of P0.30 to P0.70 per liter for gasoline and P0.20 to P0.60 per liter for diesel.
Walter Bollozos, file
MANILA, Philippines — Fuel prices are poised to increase for the third straight week amid continued concerns over global supply due to trade and tariff wars.
The Department of Energy has indicated a potential price hike of P0.30 to P0.70 per liter for gasoline and P0.20 to P0.60 per liter for diesel.
Kerosene prices, on the other hand, may either remain unchanged or fluctuate by P0.20 per liter.
The estimates reflect the trading results in the international oil market over the past four days.
Oil Industry Management Bureau assistant director Rodela Romero traced the estimated adjustments to US tariffs targeting its trading partners, including China, South Korea and the European Union.
The reciprocal tariffs, Romero said, have sparked worries that a global trade war could “dampen demand for crude.”
Also exerting upward pressure on oil prices was the expected decline in China’s refineries in March and April due to the peak maintenance season, Romero said.
Jetti Petroleum president Leo Bellas, meanwhile, said the global oil supply could face significant constraints if stricter sanctions and secondary tariffs are imposed on Iran, Venezuela and Russia.
“Potential supply disruptions due to geopolitical concerns, refinery outages in Russia and cutting of Kazakhstan’s oil output have also supported prices,” Bellas added.
Yesterday’s trading would determine the final price adjustments, which will be announced on Monday and will take effect the following day.
Last Tuesday, oil companies hiked prices of gasoline by P1.40 per liter and diesel and kerosene by P1.20 per liter.
